Beijing Tianbing Technology

Beijing Tianbing Technology

development of new generation liquid rocket engines and medium and large liquid launch vehicles in the field of commercial aerospace in China.

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CNY1.5b

Valuation: CNY12.0b

Series C
Total Funding000k
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Beijing Tianbing Technology, operating under the trade name Space Pioneer, is a private Chinese aerospace company focused on developing reusable orbital rocket technology to serve the low-cost space launch market. Founded in 2019 by Kang Yonglai, the former Chief Technology Officer of LandSpace, the company has quickly emerged as a significant player in China's commercial space sector. Kang's extensive background, including his work on the Chang Zheng 11 rocket, provides a deep technical foundation for the company's ambitious goals.

Space Pioneer's business model centers on providing launch services for satellite constellations and government contracts, including potential resupply missions for the Tiangong space station. The company made history in April 2023 with the successful maiden flight of its Tianlong-2 rocket, becoming the first private Chinese company to launch a liquid-fueled rocket into orbit and the first startup globally to achieve orbit on its initial attempt. This liquid-propellant technology is crucial as it allows for engine throttling, a key capability for reusable rockets. The Tianlong-2 can carry a payload of 2,000 kg to low Earth orbit (LEO).

The company is aggressively pursuing reusability with its next-generation launch vehicle, the Tianlong-3. This larger, two-stage rocket is designed with a reusable first stage and aims to carry a much heavier payload of 17 tonnes to LEO, comparable to SpaceX's Falcon 9. The development of its own Tianhuo series of engines, including the powerful TH-12 for the Tianlong-3, underscores its vertical integration strategy. Despite a setback in June 2024, when a Tianlong-3 first stage accidentally launched and exploded during a static fire test due to a structural failure, the company continues its development push. Space Pioneer has demonstrated significant fundraising capabilities, securing substantial capital from state-backed ventures and private equity to finance the development and eventual mass production of its rockets.

Keywords: Space Pioneer, Beijing Tianbing Technology, Kang Yonglai, Tianlong-2, Tianlong-3, reusable rockets, Chinese aerospace, commercial launch services, liquid-fueled rocket, satellite launch, space exploration, orbital launch vehicle, Tianhuo engine, low Earth orbit, LEO, launch vehicle development, private space company, space logistics, satellite constellation deployment, aerospace manufacturing, reusable first stage

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